World air travel has grown 5% per year since 1980 despite (a) 4 recessions, (b) 2 financial crises, (c) 2 gulf wars, (d) 1 oil shock, (e) one epidemic (SARS) and (f) 9/11.
20-year forecast: strong long-term growth 2013-2032…(a) world economy (GDP) expected to grow by 3.2%, (b) number of airline passengers by 4.1%, (c) airline traffic 5%, and (d) cargo 5%.
Emerging markets are driving the economic growth.
World air cargo traffic has grown 5.3% per year since 1980.
New freighter demand: 850 new, 1,450 converted from PAX.